NRS 689.235 Agent’s
license: Qualifications; application; fees. [Effective until the date of the
repeal of 42 U.S.C. § 666, the federal law requiring each state to establish
procedures for withholding, suspending and restricting the professional,
occupational and recreational licenses for child support arrearages and for
noncompliance with certain processes relating to paternity or child support
proceedings.]

NRS 689.235 Agent’s
license: Qualifications; application; fees. [Effective on the date of the
repeal of 42 U.S.C. § 666, the federal law requiring each state to establish
procedures for withholding, suspending and restricting the professional,
occupational and recreational licenses for child support arrearages and for
noncompliance with certain processes relating to paternity or child support
proceedings.]

NRS 689.255 Agent’s
license: Expiration; renewal; fees for renewal; validity. [Effective until the
date of the repeal of 42 U.S.C. § 666, the federal law requiring each state to
establish procedures for withholding, suspending and restricting the
professional, occupational and recreational licenses for child support
arrearages and for noncompliance with certain processes relating to paternity
or child support proceedings.]

NRS 689.255 Agent’s
license: Expiration; renewal; fees for renewal; validity. [Effective on the
date of the repeal of 42 U.S.C. § 666, the federal law requiring each state to
establish procedures for withholding, suspending and restricting the
professional, occupational and recreational licenses for child support
arrearages and for noncompliance with certain processes relating to paternity
or child support proceedings.]

NRS 689.258 Payment
of child support: Statement by applicant for agent’s license; grounds for
denial of agent’s license; duty of Commissioner. [Effective until the date of
the repeal of 42 U.S.C. § 666, the federal law requiring each state to
establish procedures for withholding, suspending and restricting the
professional, occupational and recreational licenses for child support
arrearages and for noncompliance with certain processes relating to paternity
or child support proceedings.]

NRS 689.262 Suspension
of agent’s license for failure to pay child support or comply with certain
subpoenas or warrants; reinstatement of agent’s license. [Effective until the
date of the repeal of 42 U.S.C. § 666, the federal law requiring each state to
establish procedures for withholding, suspending and restricting the
professional, occupational and recreational licenses for child support
arrearages and for noncompliance with certain processes relating to paternity
or child support proceedings.]

NRS 689.520 Agent’s
license: Qualifications; application; fees. [Effective until the date of the
repeal of 42 U.S.C. § 666, the federal law requiring each state to establish
procedures for withholding, suspending and restricting the professional,
occupational and recreational licenses for child support arrearages and for
noncompliance with certain processes relating to paternity or child support
proceedings.]

NRS 689.520 Agent’s
license: Qualifications; application; fees. [Effective on the date of the
repeal of 42 U.S.C. § 666, the federal law requiring each state to establish
procedures for withholding, suspending and restricting the professional,
occupational and recreational licenses for child support arrearages and for
noncompliance with certain processes relating to paternity or child support
proceedings.]

NRS 689.530 Agent’s
license: Expiration; renewal; fees for renewal; validity. [Effective until the
date of the repeal of 42 U.S.C. § 666, the federal law requiring each state to
establish procedures for withholding, suspending and restricting the
professional, occupational and recreational licenses for child support
arrearages and for noncompliance with certain processes relating to paternity
or child support proceedings.]

NRS 689.530 Agent’s
license: Expiration; renewal; fees for renewal; validity. [Effective on the
date of the repeal of 42 U.S.C. § 666, the federal law requiring each state to
establish procedures for withholding, suspending and restricting the
professional, occupational and recreational licenses for child support
arrearages and for noncompliance with certain processes relating to paternity
or child support proceedings.]

NRS 689.015Definitions.As
used in this chapter, unless the context otherwise requires, the words and
terms defined in NRS 689.035 to 689.145, inclusive, have the meanings ascribed to them
in those sections.

1. “Funeral service or services” means
those services performed normally by funeral directors or funeral or mortuary
parlors and includes their sales of supplies and equipment for burial. The term
includes cremations and crematory services. The term does not include services
performed by a cemetery or the sale by a cemetery of services, interests in
land, markers, memorials, monuments or merchandise and equipment in relation to
the cemetery or the sale of crypts or niches constructed or to be constructed
in a mausoleum or columbarium or otherwise on the property of a cemetery.

2. “Performer” means any person designated
in a prepaid contract to furnish the funeral services, supplies and equipment
covered by the contract on the demise of the beneficiary.

3. “Prepaid contract” means any contract
under which, for a specified consideration paid in advance in a lump sum or by
installments or payable solely from the proceeds of a policy of life insurance,
the seller of the contract guarantees or promises either before or upon the
death of a beneficiary named in or otherwise ascertainable from the contract to
furnish funeral services and merchandise. The term does not include a contract
of insurance or any instrument in writing whereby any charitable, religious,
benevolent or fraternal benefit society, corporation, association, institution
or organization, not having for its object or purpose pecuniary profit,
promises or agrees to embalm, inter or otherwise dispose of the remains of any
person, or to procure or pay the expenses, or any part thereof, of embalming,
interring or otherwise disposing of the remains of any person.

1. It is unlawful for any person to
receive, hold, control or manage money or proceeds received or derived from the
sale of, or from a contract to sell, any personal property, merchandise,
funeral supplies or services of any description not already existing,
available, deliverable and suitable for use in, or for the performance of, any
service before the final disposition of the remains of any deceased person,
whether such payments are made in lump sum or on an installment basis, before
the demise of the person purchasing them or the person for whose use and
benefit they are purchased, unless the provisions of NRS
689.150 to 689.375, inclusive, are complied
with.

2. The provisions of subsection 1 do not
apply to a bona fide prepaid agreement whereby a licensed mortuary or funeral
home is to furnish funeral services to a person who has a medically diagnosed
terminal illness and which agreement is entered into and fully performed by the
mortuary or funeral home on a date which is within 60 days of the date
medically predicted for the demise of the person.

2. For the purposes of subsection 1,
unless the context requires that a section apply only to insurers, any
reference in those sections to “insurer” must be replaced by a reference to
“agent” and “seller.”

3. The provisions of NRS 679B.230 to 679B.300, inclusive, apply to sellers.
Unless the context requires that a provision apply only to insurers, any
reference in those sections to “insurer” must be replaced by a reference to
“seller.”

1. The proposed seller, or the appropriate
corporate officer of the proposed seller, shall apply in writing to the
Commissioner for a seller’s certificate of authority, showing:

(a) The proposed seller’s name and address, and
his or her occupations during the preceding 5 years;

(b) The name and address of the proposed trustee;

(c) The names and addresses of the proposed
performers, specifying what particular services, supplies and equipment each
performer is to furnish under the proposed prepaid contract; and

(d) Such other pertinent information as the
Commissioner may reasonably require.

2. The application must be accompanied by:

(a) A copy of the proposed trust agreement and a
written statement signed by an authorized officer of the proposed trustee to
the effect that the proposed trustee understands the nature of the proposed
trust fund and accepts it;

(b) A copy of each contract or understanding,
existing or proposed, between the seller and performers relating to the
proposed prepaid contract or items to be supplied under it;

(c) A certified copy of the articles of
incorporation and the bylaws of any corporate applicant;

(d) A copy of any other document relating to the
proposed seller, trustee, trust, performer or prepaid contract, as required by
the Commissioner; and

(e) The applicable fee established in NRS 680B.010, which is not refundable,
and, in addition to any other fee or charge, all applicable fees required
pursuant to NRS 680C.110.

3. A natural person who is a resident of
this State must, as part of his or her application and at the applicant’s own
expense:

(a) Arrange to have a complete set of his or her
fingerprints taken by a law enforcement agency or other authorized entity
acceptable to the Commissioner; and

(b) Submit to the Commissioner:

(1) A completed fingerprint card and
written permission authorizing the Commissioner to submit the applicant’s
fingerprints to the Central Repository for Nevada Records of Criminal History
for submission to the Federal Bureau of Investigation for a report on the
applicant’s background and to such other law enforcement agencies as the
Commissioner deems necessary; or

(2) Written verification, on a form
prescribed by the Commissioner, stating that the fingerprints of the applicant
were taken and directly forwarded electronically or by another means to the
Central Repository and that the applicant has given written permission to the
law enforcement agency or other authorized entity taking the fingerprints to
submit the fingerprints to the Central Repository for submission to the Federal
Bureau of Investigation for a report on the applicant’s background and to such
other law enforcement agencies as the Commissioner deems necessary.

4. The Commissioner may:

(a) Unless the applicant’s fingerprints are
directly forwarded pursuant to subparagraph (2) of paragraph (b) of subsection
3, submit those fingerprints to the Central Repository for submission to the
Federal Bureau of Investigation and to such other law enforcement agencies as
the Commissioner deems necessary; and

(b) Request from each such agency any information
regarding the applicant’s background as the Commissioner deems necessary.

(a) Before the issuance of a certificate of
authority, the seller shall post with the Commissioner and thereafter maintain
in force a bond in the principal sum of $50,000 issued by an authorized
corporate surety in favor of the State of Nevada, or a deposit of cash or
negotiable securities or a combination of cash and negotiable securities. If a
deposit is made in lieu of a bond, the deposit must at all times have a market
value of not less than the amount of the bond required by the Commissioner.

(b) The bond or deposit must be held for the
benefit of buyers of prepaid contracts, and other persons as their interests
may appear, who may be damaged by misuse or diversion of money by the seller or
the agents of the seller, or to satisfy any judgments against the seller for
failure to perform a prepaid contract. The aggregate liability of the surety
for all breaches of the conditions of the bond must not exceed the sum of the
bond. The surety on the bond has the right to cancel the bond upon giving 30 days’
notice to the Commissioner and thereafter is relieved of liability for any
breach of condition occurring after the effective date of the cancellation.

(c) The Commissioner shall release the bond or
deposit after the seller has ceased doing business as such and the Commissioner
is satisfied of the nonexistence of any obligation or liability of the seller
for which the bond or deposit was held.

2. The Commissioner may waive the
requirements of subsection 1 if the seller agrees:

(a) To offer for sale only prepaid contracts that
are payable solely from the proceeds of a policy of life insurance; and

(b) Not to collect any money from the purchaser
of a prepaid contract.

1. If the Commissioner finds that the
application is complete and the applicant otherwise qualifies under the
provisions of NRS 689.150 to 689.375,
inclusive, the Commissioner shall issue a seller’s certificate of authority to
the applicant.

2. The Commissioner shall refuse to issue
a seller’s certificate of authority to any applicant who does not comply with
or otherwise meet the requirements of NRS 689.150
to 689.375, inclusive. Upon such refusal, the
Commissioner shall give written notice thereof to the applicant, setting forth
the reasons for the refusal.

1. Each seller’s certificate of authority
issued pursuant to NRS 689.150 to 689.375, inclusive, expires at midnight on April 30 of
the third year following its date of issuance or renewal.

2. The Commissioner shall renew a
certificate of authority upon receiving a written request for renewal from the
seller, accompanied by all applicable fees for renewal, which are not
refundable, if the Commissioner finds that the seller is, at that time, in
compliance with all applicable provisions of NRS
689.150 to 689.375, inclusive.

3. The Commissioner may accept a request
for renewal received by the Commissioner within 30 days after the expiration of
the certificate if the request is accompanied by a fee for renewal of 150
percent of all applicable fees otherwise required, except for any fee required
pursuant to NRS 680C.110.

1. After giving written notice of charges
to the seller, not less than 30 days in advance of a hearing, the Commissioner
may, after the hearing, revoke the seller’s certificate of authority if the
seller:

(a) Obtained the certificate of authority through
misrepresentation or concealment of a material fact;

(b) Is no longer qualified for such a certificate
of authority; or

(c) Knowingly violates any provision of NRS 689.150 to 689.375,
inclusive, or any lawful order or regulation of the Commissioner.

2. If a seller is found to be in violation
of paragraph (c) of subsection 1, the Commissioner may, in lieu of revocation,
suspend the seller’s certificate of authority for a period not to exceed 90
days.

NRS 689.235Agent’s license: Qualifications; application; fees. [Effective
until the date of the repeal of 42 U.S.C. § 666, the federal law requiring each
state to establish procedures for withholding, suspending and restricting the
professional, occupational and recreational licenses for child support
arrearages and for noncompliance with certain processes relating to paternity
or child support proceedings.]

1. To qualify for an agent’s license, the
applicant:

(a) Must file a written application with the Commissioner
on forms prescribed by the Commissioner;

(b) Must have a good business and personal
reputation; and

(c) Must not have been convicted of, or entered a
plea of guilty, guilty but mentally ill or nolo contendere to, forgery,
embezzlement, obtaining money under false pretenses, larceny, extortion,
conspiracy to defraud or any crime involving moral turpitude.

2. The application must:

(a) Contain information concerning the
applicant’s identity, address, social security number and personal background
and business, professional or work history.

(b) Contain such other pertinent information as
the Commissioner may require.

(d) Be accompanied by the applicable fee
established in NRS 680B.010, which is
not refundable, and, in addition to any other fee or charge, all applicable
fees required pursuant to NRS 680C.110.

3. A conviction of, or plea of guilty,
guilty but mentally ill or nolo contendere by, an applicant or licensee for any
crime listed in paragraph (c) of subsection 1 is a sufficient ground for the
Commissioner to deny a license to the applicant, or to suspend or revoke the
agent’s license pursuant to NRS 689.265.

4. A natural person who is a resident of
this State must, as part of his or her application and at the applicant’s own
expense:

(a) Arrange to have a complete set of his or her
fingerprints taken by a law enforcement agency or other authorized entity
acceptable to the Commissioner; and

(b) Submit to the Commissioner:

(1) A completed fingerprint card and
written permission authorizing the Commissioner to submit the applicant’s
fingerprints to the Central Repository for Nevada Records of Criminal History
for submission to the Federal Bureau of Investigation for a report on the
applicant’s background and to such other law enforcement agencies as the
Commissioner deems necessary; or

(2) Written verification, on a form
prescribed by the Commissioner, stating that the fingerprints of the applicant
were taken and directly forwarded electronically or by another means to the
Central Repository and that the applicant has given written permission to the
law enforcement agency or other authorized entity taking the fingerprints to
submit the fingerprints to the Central Repository for submission to the Federal
Bureau of Investigation for a report on the applicant’s background and to such
other law enforcement agencies as the Commissioner deems necessary.

5. The Commissioner may:

(a) Unless the applicant’s fingerprints are
directly forwarded pursuant to subparagraph (2) of paragraph (b) of subsection
4, submit those fingerprints to the Central Repository for submission to the
Federal Bureau of Investigation and to such other law enforcement agencies as
the Commissioner deems necessary; and

(b) Request from each such agency any information
regarding the applicant’s background as the Commissioner deems necessary.

NRS 689.235Agent’s license:
Qualifications; application; fees. [Effective on the date of the repeal of 42
U.S.C. § 666, the federal law requiring each state to establish procedures for
withholding, suspending and restricting the professional, occupational and
recreational licenses for child support arrearages and for noncompliance with
certain processes relating to paternity or child support proceedings.]

1. To qualify for an agent’s license, the
applicant:

(a) Must file a written application with the Commissioner
on forms prescribed by the Commissioner;

(b) Must have a good business and personal
reputation; and

(c) Must not have been convicted of, or entered a
plea of guilty, guilty but mentally ill or nolo contendere to, forgery,
embezzlement, obtaining money under false pretenses, larceny, extortion,
conspiracy to defraud or any crime involving moral turpitude.

2. The application must:

(a) Contain information concerning the
applicant’s identity, address, personal background and business, professional
or work history.

(b) Contain such other pertinent information as
the Commissioner may require.

(c) Be accompanied by the applicable fee
established in NRS 680B.010, which is
not refundable, and, in addition to any other fee or charge, all applicable
fees required pursuant to NRS 680C.110.

3. A conviction of, or plea of guilty,
guilty but mentally ill or nolo contendere by, an applicant or licensee for any
crime listed in paragraph (c) of subsection 1 is a sufficient ground for the
Commissioner to deny a license to the applicant, or to suspend or revoke the
agent’s license pursuant to NRS 689.265.

4. A natural person who is a resident of
this State must, as part of his or her application and at the applicant’s own
expense:

(a) Arrange to have a complete set of his or her
fingerprints taken by a law enforcement agency or other authorized entity acceptable
to the Commissioner; and

(b) Submit to the Commissioner:

(1) A completed fingerprint card and
written permission authorizing the Commissioner to submit the applicant’s
fingerprints to the Central Repository for Nevada Records of Criminal History for
submission to the Federal Bureau of Investigation for a report on the
applicant’s background and to such other law enforcement agencies as the
Commissioner deems necessary; or

(2) Written verification, on a form
prescribed by the Commissioner, stating that the fingerprints of the applicant
were taken and directly forwarded electronically or by another means to the
Central Repository and that the applicant has given written permission to the
law enforcement agency or other authorized entity taking the fingerprints to
submit the fingerprints to the Central Repository for submission to the Federal
Bureau of Investigation for a report on the applicant’s background and to such
other law enforcement agencies as the Commissioner deems necessary.

5. The Commissioner may:

(a) Unless the applicant’s fingerprints are
directly forwarded pursuant to subparagraph (2) of paragraph (b) of subsection
4, submit those fingerprints to the Central Repository for submission to the
Federal Bureau of Investigation and to such other law enforcement agencies as
the Commissioner deems necessary; and

(b) Request from each such agency any information
regarding the applicant’s background as the Commissioner deems necessary.

(Added to NRS by 1971, 1397; A 1981, 1807; 1987, 1263; 1997, 2199, 3033; 2003, 2868; 2007, 1482, 1483; 2009, 1807;
2011, 3377;
2013, 3837,
effective on the date of the repeal of 42 U.S.C. § 666, the federal law
requiring each state to establish procedures for withholding, suspending and
restricting the professional, occupational and recreational licenses for child
support arrearages and for noncompliance with certain processes relating to
paternity or child support proceedings)

NRS 689.245Agent’s license: Issuance; denial.

1. If the Commissioner finds that the
application is complete and the applicant meets the requirements of NRS 689.235 after an investigation not to exceed 30
days, the Commissioner shall issue at the request of the holder of a valid
seller’s certificate of authority an agent’s license to the applicant.

2. If the license is denied the
Commissioner shall immediately notify the applicant and the seller whom the
applicant was to represent setting forth the reasons for the denial.

NRS 689.255Agent’s license: Expiration; renewal; fees for renewal;
validity. [Effective until the date of the repeal of 42 U.S.C. § 666, the
federal law requiring each state to establish procedures for withholding,
suspending and restricting the professional, occupational and recreational
licenses for child support arrearages and for noncompliance with certain
processes relating to paternity or child support proceedings.]

1. Each agent’s license issued pursuant to
NRS 689.150 to 689.375,
inclusive, continues in force for 3 years unless it is suspended, revoked or
otherwise terminated.

2. An agent’s license may be renewed at the
request of the holder of a valid seller’s certificate of authority, upon filing
a written request for renewal accompanied by all applicable fees for renewal
and the statement required pursuant to NRS 689.258.
All applicable fees for renewal are nonrefundable.

3. Any license not so renewed expires at
midnight on the last day of the month specified for its renewal. The
Commissioner may accept a request for renewal received by the Commissioner
within 30 days after the expiration of the license if the request is accompanied
by a fee for renewal of 150 percent of all applicable fees otherwise required,
except for any fee required pursuant to NRS
680C.110, and the statement required pursuant to NRS
689.258.

4. An agent’s license is valid only while
the agent is employed by a holder of a valid seller’s certificate of authority.

NRS 689.255Agent’s license:
Expiration; renewal; fees for renewal; validity. [Effective on the date of the
repeal of 42 U.S.C. § 666, the federal law requiring each state to establish
procedures for withholding, suspending and restricting the professional,
occupational and recreational licenses for child support arrearages and for
noncompliance with certain processes relating to paternity or child support
proceedings.]

1. Each agent’s license issued pursuant to
NRS 689.150 to 689.375,
inclusive, continues in force for 3 years unless it is suspended, revoked or
otherwise terminated.

2. An agent’s license may be renewed at
the request of the holder of a valid seller’s certificate of authority, upon
filing a written request for renewal accompanied by all applicable fees for
renewal, which are nonrefundable.

3. Any license not so renewed expires at
midnight on the last day of the month specified for its renewal. The
Commissioner may accept a request for renewal received by the Commissioner
within 30 days after the expiration of the license if the request is
accompanied by a fee for renewal of 150 percent of all applicable fees
otherwise required, except for any fee required pursuant to NRS 680C.110.

4. An agent’s license is valid only while
the agent is employed by a holder of a valid seller’s certificate of authority.

(Added to NRS by 1971, 1397; A 1981, 1807; 1987, 465, 1264; 1997, 2199; 2009, 1808,
effective on the date of the repeal of 42 U.S.C. § 666, the federal law
requiring each state to establish procedures for withholding, suspending and
restricting the professional, occupational and recreational licenses for child
support arrearages and for noncompliance with certain processes relating to
paternity or child support proceedings)

NRS 689.258Payment of child support: Statement by applicant for agent’s
license; grounds for denial of agent’s license; duty of Commissioner.
[Effective until the date of the repeal of 42 U.S.C. § 666, the federal law
requiring each state to establish procedures for withholding, suspending and
restricting the professional, occupational and recreational licenses for child
support arrearages and for noncompliance with certain processes relating to
paternity or child support proceedings.]

1. An applicant for the issuance or
renewal of an agent’s license pursuant to this chapter shall submit to the
Commissioner the statement prescribed by the Division of Welfare and Supportive
Services of the Department of Health and Human Services pursuant to NRS 425.520. The statement must be
completed and signed by the applicant.

2. The Commissioner shall include the
statement required pursuant to subsection 1 in:

(a) The application or any other forms that must
be submitted for the issuance or renewal of the license; or

(b) A separate form prescribed by the
Commissioner.

3. An agent’s license may not be issued or
renewed by the Commissioner pursuant to this chapter if the applicant:

(a) Fails to submit the statement required
pursuant to subsection 1; or

(b) Indicates on the statement submitted pursuant
to subsection 1 that the applicant is subject to a court order for the support
of a child and is not in compliance with the order or a plan approved by the
district attorney or other public agency enforcing the order for the repayment
of the amount owed pursuant to the order.

4. If an applicant indicates on the
statement submitted pursuant to subsection 1 that the applicant is subject to a
court order for the support of a child and is not in compliance with the order
or a plan approved by the district attorney or other public agency enforcing
the order for the repayment of the amount owed pursuant to the order, the
Commissioner shall advise the applicant to contact the district attorney or
other public agency enforcing the order to determine the actions that the
applicant may take to satisfy the arrearage.

NRS 689.262Suspension of agent’s license for failure to pay child support
or comply with certain subpoenas or warrants; reinstatement of agent’s license.
[Effective until the date of the repeal of 42 U.S.C. § 666, the federal law
requiring each state to establish procedures for withholding, suspending and
restricting the professional, occupational and recreational licenses for child
support arrearages and for noncompliance with certain processes relating to
paternity or child support proceedings.]

1. If the Commissioner receives a copy of
a court order issued pursuant to NRS
425.540 that provides for the suspension of all professional, occupational
and recreational licenses, certificates and permits issued to a person who is
the holder of an agent’s license issued pursuant to this chapter, the
Commissioner shall deem the license issued to that person to be suspended at
the end of the 30th day after the date on which the court order was issued
unless the Commissioner receives a letter issued to the holder of the license
by the district attorney or other public agency pursuant to NRS 425.550 stating that the holder of the
license has complied with the subpoena or warrant or has satisfied the
arrearage pursuant to NRS 425.560.

2. The Commissioner shall reinstate an
agent’s license issued pursuant to this chapter that has been suspended by a
district court pursuant to NRS 425.540
if the Commissioner receives a letter issued by the district attorney or other
public agency pursuant to NRS 425.550
to the person whose license was suspended stating that the person whose license
was suspended has complied with the subpoena or warrant or has satisfied the
arrearage pursuant to NRS 425.560.

1. All forms for a prepaid contract
offered or sold in this state must contain:

(a) The names and addresses of the seller, buyer,
beneficiary and trustee and of each performer;

(b) A clear and unambiguous statement of the
services and property to be supplied and by whom;

(c) The purchase price of each item of supply or
service and how payable;

(d) The date and place of execution;

(e) Other reasonable and appropriate provisions
as prescribed by the Commissioner by regulation;

(f) The full percentage of the sales commission
to be retained by the seller;

(g) The seller’s or his or her agent’s signature
on the original contract and his or her identification by name and title on any
duplicate copy of the contract given to the buyer;

(h) A provision in 14-point type or larger,
stating in substance that the buyer is permitted to return the contract within
10 days after its delivery to the buyer and to have the full purchase price or
amount paid thereon refunded if the buyer is not satisfied with it for any
reason;

(i) In print on its face sheet, in 14-point type
or larger, a notice stating, “This is not an insurance contract.”; and

(j) A provision for the return of the net
purchase price at any time before the services are performed by the seller.

2. The written contract, when signed,
constitutes the entire agreement between the parties relative to its subject
matter.

3. If the buyer, pursuant to the provision
required by paragraph (h) of subsection 1, returns the contract to the seller
at the branch or home office of the seller or to the agent through whom it was
purchased, the contract is void from the beginning and the parties return to
the same position they occupied before the contract was entered into.

1. A seller shall not offer, sell or
deliver in this state any prepaid contract unless the form of the contract has
been filed with and approved in writing by the Commissioner.

2. The Commissioner shall disapprove any
form of contract which the Commissioner finds:

(a) Printed or reproduced in such a manner as to
be substantially illegible in whole or in part;

(b) Contains ambiguous or misleading provisions,
clauses or titles;

(c) Includes or combines in the prepaid contract
provisions for the purchase of a cemetery plot and incidental burial services;
or

(d) Does not comply or is inconsistent with any
applicable requirement of NRS 689.150 to 689.375, inclusive, or for other good cause shown.

3. No amendment or modification of any
form may be made unless the amendment or modification has been filed with and approved
in writing by the Commissioner.

4. Each filing is subject to a waiting
period of up to 30 days before it becomes effective.

5. Upon written application by the holder
of a seller’s certificate of authority, the Commissioner may authorize a filing
which the Commissioner has reviewed to become effective before the expiration
of the waiting period or any extension thereof.

6. A filing shall be deemed to meet the
requirements of NRS 689.150 to 689.375, inclusive, unless disapproved by the
Commissioner within the waiting period or any extension thereof.

NRS 689.295Prepaid contracts: Credit life insurance.If the purchase price for a prepaid contract
is to be paid in installments, the seller may make available to the buyer
credit life insurance on a form and terms filed with and approved by the
Commissioner. The buyer must be provided with a certificate of the credit
insurance by the seller or as otherwise required by the Commissioner.

(a) The seller shall establish and maintain a
trust fund with an authorized trustee, for the benefit of the beneficiary of
the prepaid contract, in accordance with the trust agreement filed with and approved
by the Commissioner.

(b) The seller shall maintain unimpaired and
shall deposit in the trust fund, within 15 days after the end of the month in
which payment was received, all installments received on prepaid contracts sold
after the sales commission has been deducted.

(c) The trustee shall, with respect to the money
in the trust fund, exercise the judgment and care under the circumstances then
prevailing which persons of prudence, discretion and intelligence exercise in
the management of their own affairs, not in regard to speculation, but in
regard to the permanent disposition of their money, considering the probable
income as well as the probable safety of their capital. Within the limitations
of such standards, and subject to any express provision or limitation contained
in any particular trust instrument, a trustee may acquire and retain every kind
of investment, specifically including bonds, debentures and other corporate
obligations and stocks, preferred or common, which persons of prudence,
discretion and intelligence acquire or retain for their own account.

(d) Except as otherwise provided in NRS 689.150 to 689.375,
inclusive, or the trust agreement approved in writing by the Commissioner or as
may be required by an order of a court of competent jurisdiction, the trustees
shall maintain the trust fund intact and unimpaired and shall make no other
payment or disbursement from the trust fund.

2. The requirements of subsection 1 do not
apply if:

(a) The prepaid contract is payable solely from
the proceeds of a policy of life insurance; and

(b) The seller of the prepaid contract does not
collect any money from the purchaser of the prepaid contract.

1. Not more than 75 percent of the
earnings of such investments, including capital gains, as they accrue and are
received, may be disbursed by the trustee to the seller or the designee of the
seller. The remainder of any earnings must be held by the trustee to establish
a reserve for securities valuation until the reserve equals 25 percent of the
total trust liabilities.

2. The trustee shall maintain in the trust
fund an amount of money equal to 125 percent of the total trust liabilities.

3. If money in the trust fund is invested
or reinvested in:

(a) Securities which are issued or guaranteed by
the United States of America;

(b) Bonds of this state or the bonds of any other
state;

(c) Bonds of counties or municipalities of any
state;

(d) Deposits in any bank, credit union or savings
and loan association that is federally insured or insured by a private insurer
approved pursuant to NRS 678.755; or

(e) With the written approval of the
Commissioner, any investment which would have guaranteed liquidity,

Ê then no
earnings of those investments, including capital gains, if any, as such earnings
accrue and are received, may be disbursed by the trustee to the seller or the
designee of the seller which would reduce the corpus of the trust fund below
100 percent of the required value of the trust. Earnings in excess of 100
percent of the required value of the trust or 125 percent of the total trust
liability, whichever is appropriate, may be distributed annually.

4. Earnings are defined as any sum
remaining in the trust fund after deducting costs of administration over and
above 100 percent of the required value of the trust.

5. Every trustee handling money in a trust
fund pursuant to NRS 689.150 to 689.375, inclusive, shall file with the Commissioner,
within 15 days after the first day of each calendar quarter, a financial
statement showing the activity of all trusts required to be maintained by any
seller and the total market value of each trust as of the first day of the
calendar quarter. The statement must be on forms prescribed and adopted by the
Commissioner. Every quarterly report must be accompanied by a fee of $10. If
the statement is not received by the Commissioner as required, the Commissioner
may, after giving the seller 10 days’ written notice, revoke the seller’s
certificate of authority.

6. The trust must be valued quarterly and
averaged annually to determine the total value of the trust. If the average
market value as of December 31 of each year is below 100 percent of the
required value of the trust or 125 percent of the total trust liability, the
Commissioner may suspend the seller’s certificate of authority until the
deficiency is made up.

NRS 689.345Prepaid contracts: Net purchase price to be available on
termination by buyer, estate or heirs.The
net purchase price of the preneed contract shall be available to the buyer or
the estate or heirs of the buyer at any time prior to performing the service
described in the preneed contract upon written notice to the seller and trustee
of the intent of the buyer or the estate or heirs of the buyer to terminate the
preneed contract and withdraw trust funds attributable to the buyer.

(Added to NRS by 1971, 1400)

NRS 689.355Prepaid contracts: Termination by buyer.

1. Except as otherwise provided in
subsection 2, if the buyer moves to another geographic area beyond the normal
facilities of the seller and performers under the prepaid contract, the
contract automatically terminates upon the buyer’s written notice to the seller
and trustee of the buyer’s move and of the buyer’s desire to terminate the
contract. The trustee, as soon as reasonably possible after receipt of the
notice, shall refund to the buyer all money in the trust fund, including earned
interest, held for the buyer’s account.

2. If the contract continues in force and
the buyer is not in default thereunder, upon the demise of the contract
beneficiary, the contract automatically terminates. Upon termination, the
seller shall refund to the buyer or to the representative or estate of the
buyer, or transfer to a substituted performer, if any, all money paid on the
contract.

NRS 689.365Prepaid contracts: Termination on insolvency or other inability
of seller to perform; distribution of money in trust fund.

1. An executory prepaid contract
automatically terminates if the seller or any performer under the contract goes
out of business, dies, becomes insolvent or bankrupt, makes an assignment for
the benefit of creditors or is otherwise unable to fulfill the obligations
under the contract unless, within 30 days after the going out of business,
death, insolvency or bankruptcy of the seller, or within any extension of time
granted by the Commissioner, the contract is assigned to a holder of a valid
seller’s certificate of authority who agrees in writing to accept the
liabilities under the contract and agrees to fulfill all obligations set forth
therein.

2. Upon any such termination, the money in
the trust fund, including earned interest, held by the trustee for the account
of the buyer must be distributed by the trustee to the buyer or to a qualified
seller or performer assuming the outstanding contractual liabilities, as
authorized by the Commissioner.

(b) Copies of all agreements and dates and
amounts of payments made and accepted;

(c) The names and addresses of the contracting
parties; and

(d) The persons for whose benefit the payments
are accepted and the names of the depositories in which the payments are
deposited.

2. The seller shall keep within this
State, at the address shown upon the certificate of authority, complete records
of all transactions made under the certificate of authority of the seller.
Those records and the affairs of the seller are subject to audit and
examination by the Commissioner at any reasonable time. The seller shall keep such
records for not less than 5 years after the completion of all transactions to
which they relate.

NRS 689.450Definitions.As
used in NRS 689.450 to 689.595,
inclusive, unless the context otherwise requires, the words and terms defined
in NRS 689.455 to 689.475,
inclusive, have the meanings ascribed to them in those sections.

NRS 689.455“Burial merchandise” defined.“Burial
merchandise” means those items normally supplied by a cemetery authority under
a preneed sales agreement, including urns, memorials, scrolls, vases,
foundations, bases and other similar merchandise, but does not include the sale
of space for interment, entombment or inurnment.

NRS 689.460“Burial services” defined.“Burial
services” means those services normally performed by a cemetery authority under
a preneed sales agreement for the opening and closing of graves, crypts and
niches, and other services in relation thereto.

NRS 689.465“Cemetery authority” defined.“Cemetery
authority” means any natural person, partnership, corporation, association or
cemetery district owning or controlling lands or property for a cemetery and
engaged in the operation of a cemetery in this State which provides endowment
care or sells burial merchandise or services under prepaid contracts.

NRS 689.470“Performer” defined.“Performer”
means any person designated in the prepaid contract to furnish the burial
merchandise and supplies and to perform the services covered by the contract,
on the demise of the beneficiary.

1. “Prepaid contract” means any contract
under which, for a specified consideration paid in advance in a lump sum or by
installments or payable solely from the proceeds of a policy of life insurance,
the seller of the contract guarantees or promises, either before or upon the death
of a beneficiary named in or otherwise ascertainable from the contract, to
provide burial services and to furnish adaptable or suitable personal property,
merchandise, supplies or facilities in connection with such services.

2. “Prepaid contract” does not include a
contract of insurance or any instrument in writing whereby any charitable,
religious, benevolent or fraternal benefit society, corporation, association,
institution or organization, not having for its object or purpose pecuniary
profit, promises or agrees to embalm, inter or otherwise dispose of the remains
of any person, or to procure or pay the expenses, or any part thereof, for
embalming, interring or otherwise disposing of the remains of any person.

1. It is unlawful for any person to
receive, hold, control or manage money or proceeds received or derived from the
sale of, or from a contract to sell, any personal property, equipment,
merchandise or supplies of any description not then already existing,
available, deliverable and suitable for use in, or for the performance of, any
services connected with the interment, entombment or inurnment of the remains
of any deceased person, whether any such payment is made in lump sum or on an
installment basis, before the demise of the contract beneficiary for whom
purchased, unless the provisions of NRS 689.450 to 689.595, inclusive, are complied with.

2. The provisions of subsection 1 do not
apply to:

(a) The sale of grave plots, interests in land of
a cemetery or space in a mausoleum vault or crypt or columbarium niche by any
cemetery authority otherwise authorized to make such sales under NRS 689.450 to 689.595,
inclusive, which sales must be separated and distinctly defined in any
agreement for burial merchandise and services.

(b) A bona fide prepaid agreement whereby a
cemetery authority is to furnish burial merchandise and services to a person
who has a medically diagnosed terminal illness and which agreement is entered
into and fully performed by the cemetery authority within 60 days of the date
medically predicted for the demise of the beneficiary named in any such
agreement.

1. It is unlawful for any cemetery
authority, or any person on behalf of a cemetery authority, to offer or sell
any burial merchandise or services under a prepaid contract unless the cemetery
authority has been issued a seller’s permit by the Commissioner.

2. Subsection 1 does not apply to
cemeteries owned and operated by governmental agencies.

3. A person who offers or sells any burial
merchandise or services under a prepaid contract in this state in violation of
the provisions of this section is subject to an administrative fine of not more
than $1,000 for each violation.

1. The proposed seller, or the appropriate
corporate officer of the seller, shall apply in writing to the Commissioner for
a seller’s permit, showing:

(a) The proposed seller’s name and address and
his or her occupations during the preceding 5 years;

(b) The name and address of the proposed trustee;

(c) The names and addresses of the proposed
performers, specifying what particular services, supplies and equipment each
performer is to furnish under the proposed prepaid contract; and

(d) Such other pertinent information as the
Commissioner may reasonably require.

2. The application must be accompanied by:

(a) A copy of the proposed trust agreement and a
written statement signed by an authorized officer of the proposed trustee to
the effect that the proposed trustee understands the nature of the proposed
trust fund and accepts it;

(b) A copy of each contract or understanding,
existing or proposed, between the seller and performers relating to the
proposed prepaid contract or items to be supplied under it;

(c) A certified copy of the articles of
incorporation and the bylaws of any corporate applicant;

(d) A copy of any other document relating to the
proposed seller, trustee, trust, performer or prepaid contract, as required by
the Commissioner; and

(e) The applicable fee established in NRS 680B.010, which is not refundable,
and, in addition to any other fee or charge, all applicable fees required
pursuant to NRS 680C.110.

3. A natural person who is a resident of
this State must, as part of his or her application and at the applicant’s own
expense:

(a) Arrange to have a complete set of his or her
fingerprints taken by a law enforcement agency or other authorized entity
acceptable to the Commissioner; and

(b) Submit to the Commissioner:

(1) A completed fingerprint card and
written permission authorizing the Commissioner to submit the applicant’s
fingerprints to the Central Repository for Nevada Records of Criminal History
for submission to the Federal Bureau of Investigation for a report on the
applicant’s background and to such other law enforcement agencies as the
Commissioner deems necessary; or

(2) Written verification, on a form
prescribed by the Commissioner, stating that the fingerprints of the applicant
were taken and directly forwarded electronically or by another means to the
Central Repository and that the applicant has given written permission to the
law enforcement agency or other authorized entity taking the fingerprints to
submit the fingerprints to the Central Repository for submission to the Federal
Bureau of Investigation for a report on the applicant’s background and to such
other law enforcement agencies as the Commissioner deems necessary.

4. The Commissioner may:

(a) Unless the applicant’s fingerprints are
directly forwarded pursuant to subparagraph (2) of paragraph (b) of subsection
3, submit those fingerprints to the Central Repository for submission to the
Federal Bureau of Investigation and to such other law enforcement agencies as
the Commissioner deems necessary; and

(b) Request from each such agency any information
regarding the applicant’s background as the Commissioner deems necessary.

(a) Before the issuance of a permit to a seller,
the seller shall post with the Commissioner and thereafter maintain in force a
bond in the principal sum of $50,000 issued by an authorized corporate surety
in favor of the State of Nevada, or a deposit of cash or negotiable securities
or a combination of cash and negotiable securities. If a deposit is made in
lieu of a bond, the deposit must at all times have a market value not less than
the amount of the bond required by the Commissioner.

(b) The bond or deposit must be held for the
benefit of buyers of prepaid contracts, and other persons as their interests
may appear, who may be damaged by misuse or diversion of money by the seller or
the agents of the seller, or to satisfy any judgments against the seller for
failure to perform a prepaid contract. The aggregate liability of the surety
for all breaches of the conditions of the bond must not exceed the sum of the
bond. The surety on the bond has the right to cancel the bond upon giving 30
days’ notice to the Commissioner and thereafter is relieved of liability for
any breach of condition occurring after the effective date of the cancellation.

(c) The Commissioner shall release the bond or
deposit after the seller has ceased doing business as such and the Commissioner
is satisfied of the nonexistence of any obligation or liability of the seller
for which the bond or deposit was held.

2. The Commissioner may waive the
requirements of subsection 1 if the seller agrees:

(a) To offer for sale only prepaid contracts that
are payable solely from the proceeds of a policy of life insurance; and

(b) Not to collect any money from the purchaser
of a prepaid contract.

1. If the Commissioner finds that the
application is complete, that the cemetery authority is in compliance with all
requirements therefor, that the applicant otherwise qualifies under the
provisions of NRS 689.450 to 689.595,
inclusive, and upon satisfactory evidence that a burial merchandise and service
trust fund has been established, the Commissioner shall issue a seller’s permit
to the applicant.

2. The Commissioner shall refuse to issue
a seller’s permit to any applicant who does not comply with or otherwise meet
the requirements of NRS 689.450 to 689.595, inclusive. Upon such refusal, the
Commissioner shall give written notice thereof to the applicant setting forth
the reasons for the refusal.

1. Each seller’s permit issued pursuant to
NRS 689.450 to 689.595,
inclusive, continues in effect for 3 years unless it is suspended, revoked or
otherwise terminated.

2. The Commissioner shall renew a seller’s
permit upon receiving a written request for renewal from the seller,
accompanied by all applicable fees for renewal, which are not refundable, if
the Commissioner finds that the seller is, at that time, in compliance with all
applicable provisions of NRS 689.450 to 689.595, inclusive.

3. A permit which is not renewed expires
at midnight on the last day specified for its renewal. The Commissioner may
accept a request for renewal received by the Commissioner within 30 days after
the expiration of the permit if the request is accompanied by a fee for renewal
of 150 percent of all applicable fees otherwise required, except for any fee
required pursuant to NRS 680C.110.

NRS 689.520Agent’s license: Qualifications; application; fees. [Effective
until the date of the repeal of 42 U.S.C. § 666, the federal law requiring each
state to establish procedures for withholding, suspending and restricting the
professional, occupational and recreational licenses for child support
arrearages and for noncompliance with certain processes relating to paternity
or child support proceedings.]

1. To qualify for an agent’s license, the
applicant:

(a) Must file a written application with the
Commissioner on forms prescribed by the Commissioner; and

(b) Must not have been convicted of, or entered a
plea of guilty, guilty but mentally ill or nolo contendere to, forgery,
embezzlement, obtaining money under false pretenses, larceny, extortion,
conspiracy to defraud or any crime involving moral turpitude.

2. The application must:

(a) Contain information concerning the
applicant’s identity, address, social security number, personal background and
business, professional or work history.

(b) Contain such other pertinent information as
the Commissioner may require.

(d) Be accompanied by the applicable fee
established in NRS 680B.010, which is
not refundable, and, in addition to any other fee or charge, all applicable
fees required pursuant to NRS 680C.110.

3. A conviction of, or plea of guilty,
guilty but mentally ill or nolo contendere by, an applicant or licensee for any
crime listed in paragraph (b) of subsection 1 is a sufficient ground for the
Commissioner to deny a license to the applicant, or to suspend or revoke the
agent’s license pursuant to NRS 689.535.

4. A natural person who is a resident of
this State must, as part of his or her application and at the applicant’s own
expense:

(a) Arrange to have a complete set of his or her
fingerprints taken by a law enforcement agency or other authorized entity
acceptable to the Commissioner; and

(b) Submit to the Commissioner:

(1) A completed fingerprint card and
written permission authorizing the Commissioner to submit the applicant’s
fingerprints to the Central Repository for Nevada Records of Criminal History
for submission to the Federal Bureau of Investigation for a report on the
applicant’s background and to such other law enforcement agencies as the
Commissioner deems necessary; or

(2) Written verification, on a form
prescribed by the Commissioner, stating that the fingerprints of the applicant
were taken and directly forwarded electronically or by another means to the
Central Repository and that the applicant has given written permission to the
law enforcement agency or other authorized entity taking the fingerprints to
submit the fingerprints to the Central Repository for submission to the Federal
Bureau of Investigation for a report on the applicant’s background and to such
other law enforcement agencies as the Commissioner deems necessary.

5. The Commissioner may:

(a) Unless the applicant’s fingerprints are directly
forwarded pursuant to subparagraph (2) of paragraph (b) of subsection 4, submit
those fingerprints to the Central Repository for submission to the Federal
Bureau of Investigation and to such other law enforcement agencies as the
Commissioner deems necessary; and

(b) Request from each such agency any information
regarding the applicant’s background as the Commissioner deems necessary.

NRS 689.520Agent’s license:
Qualifications; application; fees. [Effective on the date of the repeal of 42
U.S.C. § 666, the federal law requiring each state to establish procedures for
withholding, suspending and restricting the professional, occupational and
recreational licenses for child support arrearages and for noncompliance with
certain processes relating to paternity or child support proceedings.]

1. To qualify for an agent’s license, the
applicant:

(a) Must file a written application with the
Commissioner on forms prescribed by the Commissioner; and

(b) Must not have been convicted of, or entered a
plea of guilty, guilty but mentally ill or nolo contendere to, forgery,
embezzlement, obtaining money under false pretenses, larceny, extortion,
conspiracy to defraud or any crime involving moral turpitude.

2. The application must:

(a) Contain information concerning the
applicant’s identity, address, personal background and business, professional
or work history.

(b) Contain such other pertinent information as
the Commissioner may require.

(c) Be accompanied by the applicable fee
established in NRS 680B.010, which is
not refundable, and, in addition to any other fee or charge, all applicable
fees required pursuant to NRS 680C.110.

3. A conviction of, or plea of guilty,
guilty but mentally ill or nolo contendere by, an applicant or licensee for any
crime listed in paragraph (b) of subsection 1 is a sufficient ground for the
Commissioner to deny a license to the applicant, or to suspend or revoke the
agent’s license pursuant to NRS 689.535.

4. A natural person who is a resident of
this State must, as part of his or her application and at the applicant’s own
expense:

(a) Arrange to have a complete set of his or her
fingerprints taken by a law enforcement agency or other authorized entity
acceptable to the Commissioner; and

(b) Submit to the Commissioner:

(1) A completed fingerprint card and
written permission authorizing the Commissioner to submit the applicant’s
fingerprints to the Central Repository for Nevada Records of Criminal History
for submission to the Federal Bureau of Investigation for a report on the
applicant’s background and to such other law enforcement agencies as the
Commissioner deems necessary; or

(2) Written verification, on a form
prescribed by the Commissioner, stating that the fingerprints of the applicant
were taken and directly forwarded electronically or by another means to the
Central Repository and that the applicant has given written permission to the
law enforcement agency or other authorized entity taking the fingerprints to
submit the fingerprints to the Central Repository for submission to the Federal
Bureau of Investigation for a report on the applicant’s background and to such
other law enforcement agencies as the Commissioner deems necessary.

5. The Commissioner may:

(a) Unless the applicant’s fingerprints are directly
forwarded pursuant to subparagraph (2) of paragraph (b) of subsection 4, submit
those fingerprints to the Central Repository for submission to the Federal
Bureau of Investigation and to such other law enforcement agencies as the
Commissioner deems necessary; and

(b) Request from each such agency any information
regarding the applicant’s background as the Commissioner deems necessary.

(Added to NRS by 1987, 1254; A 1997, 2200, 3034; 2003, 2869; 2007, 1483, 1484; 2009, 1809;
2011, 3380;
2013, 3837,
effective on the date of the repeal of 42 U.S.C. § 666, the federal law
requiring each state to establish procedures for withholding, suspending and
restricting the professional, occupational and recreational licenses for child
support arrearages and for noncompliance with certain processes relating to
paternity or child support proceedings)

NRS 689.525Agent’s license: Issuance; denial.

1. If the Commissioner finds that the
application is complete and the applicant meets the requirements of NRS 689.520 after an investigation not to exceed 30
days, the Commissioner shall issue at the request of the holder of a valid
seller’s permit an agent’s license to the applicant.

2. If the license is denied the
Commissioner shall immediately notify the applicant and the seller that the
applicant was to represent setting forth the reasons for the denial.

NRS 689.530Agent’s license: Expiration; renewal; fees for renewal;
validity. [Effective until the date of the repeal of 42 U.S.C. § 666, the
federal law requiring each state to establish procedures for withholding,
suspending and restricting the professional, occupational and recreational
licenses for child support arrearages and for noncompliance with certain
processes relating to paternity or child support proceedings.]

1. Each agent’s license issued pursuant to
NRS 689.450 to 689.595,
inclusive, continues in effect for 3 years unless it is suspended, revoked or
otherwise terminated.

2. An agent’s license may be renewed,
unless it has been suspended or revoked, at the request of the holder of a
valid seller’s permit upon filing a written request for renewal accompanied by
all applicable fees for renewal and the statement required pursuant to NRS 689.258. All applicable fees for renewal are not
refundable.

3. The Commissioner may accept a request
for renewal which is received by the Commissioner within 30 days after the
expiration of the license if the request is accompanied by a fee for renewal of
150 percent of all applicable fees otherwise required, except for any fee
required pursuant to NRS 680C.110,
and the statement required pursuant to NRS 689.258.

4. An agent’s license is valid only while
the agent is employed by a holder of a valid seller’s permit.

NRS 689.530Agent’s license:
Expiration; renewal; fees for renewal; validity. [Effective on the date of the
repeal of 42 U.S.C. § 666, the federal law requiring each state to establish
procedures for withholding, suspending and restricting the professional,
occupational and recreational licenses for child support arrearages and for
noncompliance with certain processes relating to paternity or child support
proceedings.]

1. Each agent’s license issued pursuant to
NRS 689.450 to 689.595,
inclusive, continues in effect for 3 years unless it is suspended, revoked or
otherwise terminated.

2. An agent’s license may be renewed,
unless it has been suspended or revoked, at the request of the holder of a
valid seller’s permit upon filing a written request for renewal accompanied by
all applicable fees for renewal, which are not refundable.

3. The Commissioner may accept a request
for renewal which is received by the Commissioner within 30 days after the
expiration of the license if the request is accompanied by a fee for renewal of
150 percent of all applicable fees otherwise required, except for any fee
required pursuant to NRS 680C.110.

4. An agent’s license is valid only while
the agent is employed by a holder of a valid seller’s permit.

(Added to NRS by 1987, 1255; A 1993, 2619; 1997, 2200; 2009, 1810,
effective on the date of the repeal of 42 U.S.C. § 666, the federal law
requiring each state to establish procedures for withholding, suspending and
restricting the professional, occupational and recreational licenses for child
support arrearages and for noncompliance with certain processes relating to paternity
or child support proceedings)

NRS 689.535Agent’s license: Revocation; suspension.The Commissioner may proceed against an
agent’s license in the same manner as provided in NRS
689.510 if the agent:

1. Obtained the license through
misrepresentation or concealment of a material fact.

2. Is no longer qualified for such a
license.

3. Knowingly violates any provision of NRS 689.450 to 689.595,
inclusive, or any lawful order or regulation of the Commissioner.

1. All forms for a prepaid contract
offered or sold in this state must contain:

(a) The names and addresses of the seller, buyer,
beneficiary and trustee and of each performer;

(b) A clear and unambiguous statement of the
services and merchandise to be supplied and by whom;

(c) The purchase price of each item of supply or
service and how payable;

(d) The date and place of execution;

(e) Other reasonable and appropriate provisions
as prescribed by the Commissioner by regulation;

(f) The full percentage of the sales commission
to be retained by the seller;

(g) The seller’s or his or her agent’s signature
on the original contract and his or her identification by name and title on any
duplicate copy of the contract given to the buyer;

(h) A provision in 14-point type or larger,
stating in substance that the buyer is permitted to return the contract within
10 days after its delivery to the buyer and to have the full purchase price or
amount paid thereon refunded if the buyer is not satisfied with it for any
reason; and

(i) In print on its face sheet, in 14-point type
or larger, a notice stating, “This is not an insurance contract.”

2. The written contract, when signed,
constitutes the entire agreement between the parties relative to its subject
matter.

3. If the buyer, pursuant to the provision
required by paragraph (h) of subsection 1, returns the contract to the seller
at the branch or home office of the seller or to the agent through whom it was
purchased, the contract is void from the beginning and the parties return to
the same position they occupied before the contract was entered into.

1. A seller shall not offer, sell or deliver
in this state any prepaid contract unless the form of the contract has been
filed with and approved in writing by the Commissioner.

2. The Commissioner shall disapprove any
form of contract which the Commissioner finds:

(a) Printed or reproduced in such a manner as to
be substantially illegible in whole or in part;

(b) Contains ambiguous or misleading provisions,
clauses or titles;

(c) Includes or combines in the prepaid contract
provisions for the purchase of cemetery plots and existing burial spaces,
unless such sales are separated and distinctly defined as burial merchandise
and services; or

(d) Does not comply or is inconsistent with any
applicable requirement of NRS 689.450 to 689.595, inclusive,

Ê or for other
good cause shown.

3. No amendment or modification of any
form may be made unless the amendment or modification has been filed with and
approved in writing by the Commissioner.

4. Each filing is subject to a waiting
period of up to 30 days before it becomes effective.

5. Upon written application by the holder
of a seller’s permit, the Commissioner may authorize a filing which the
Commissioner has reviewed to become effective before the expiration of the
waiting period or any extension thereof.

6. A filing shall be deemed to meet the
requirements of NRS 689.450 to 689.595, inclusive, unless disapproved by the
Commissioner within the waiting period or any extension thereof.

NRS 689.550Prepaid contracts: Credit life insurance.If the purchase price for a prepaid contract
is to be paid in installments, the seller may make available to the buyer
credit life insurance on a form and terms filed with and approved by the
Commissioner. The buyer must be provided with a certificate of the credit
insurance by the seller or as otherwise required by the Commissioner.

(a) The seller shall establish and maintain a
trust fund with an authorized trustee, for the benefit of the beneficiary of
the prepaid contract, in accordance with the trust agreement filed with and
approved by the Commissioner.

(b) The seller shall maintain unimpaired and
shall deposit in the trust fund, within 15 days after the end of the month in
which payment was received, all installments received on prepaid contracts sold
after the sales commission has been deducted.

(c) The trustee shall, with respect to the money
in the trust fund, exercise the judgment and care under the circumstances then
prevailing which persons of prudence, discretion and intelligence exercise in
the management of their own affairs, not in regard to speculation, but in
regard to the permanent disposition of their money, considering the probable
income as well as the probable safety of their capital. Within the limitations
of such standards, and subject to any express provision or limitation contained
in any particular trust instrument, a trustee may acquire and retain every kind
of investment, specifically including bonds, debentures and other corporate
obligations and stocks, preferred or common, which persons of prudence,
discretion and intelligence acquire or retain for their own account.

(d) The trustee shall, except as otherwise provided
in NRS 689.450 to 689.595,
inclusive, or the trust agreement approved in writing by the Commissioner or as
may be required by an order of a court of competent jurisdiction, maintain the
trust fund intact and unimpaired and not make any payment or disbursement from
the trust fund.

2. The requirements of subsection 1 do not
apply if:

(a) The prepaid contract is payable solely from
the proceeds of a policy of life insurance; and

(b) The seller of the prepaid contract does not
collect any money from the purchaser of the prepaid contract.

1. Not more than 60 percent of the
earnings of such investments, including capital gains, as they accrue and are
received, may be disbursed by the trustee to the seller or his or her designee.
The remainder of any earnings must be held by the trustee to establish a
reserve for securities valuation until the reserve equals 40 percent of the
total trust liabilities.

2. The trustee shall maintain in the trust
fund an amount of money equal to 125 percent of the total trust liabilities.

3. If money in the trust fund is invested
or reinvested in:

(a) Securities which are issued or guaranteed by
the United States of America;

(b) Bonds of this state or the bonds of any other
state;

(c) Bonds of counties or municipalities of any
state;

(d) Deposits in any bank, credit union or savings
and loan association that is federally insured or insured by a private insurer
approved pursuant to NRS 678.755; or

(e) With the written approval of the
Commissioner, any investment which has guaranteed liquidity,

Ê then no
earnings of those investments, including capital gains, if any, as such
earnings accrue and are received, may be disbursed by the trustee to the seller
or his or her designee which would reduce the corpus of the trust fund below
100 percent of the required value of the trust. Earnings in excess of 100
percent of the required value of the trust or 125 percent of the total trust
liability, whichever is appropriate, may be distributed annually.

4. Earnings are defined as any sum
remaining in the trust fund after deducting costs of administration over and
above 100 percent of the required value of the trust.

5. Every trustee handling money in a trust
fund pursuant to NRS 689.450 to 689.595, inclusive, shall file with the Commissioner,
within 15 days after the first day of each calendar quarter, a financial
statement showing the activity of all trusts required to be maintained by any
seller and the total market value of each trust as of the first day of the
calendar quarter. The statement for the fourth quarter must be a summary of all
transactions involving the account. The statement must be on forms prescribed
and adopted by the Commissioner. Every quarterly report must be accompanied by
a fee of $10. If the statement is not received by the Commissioner as required,
the Commissioner may, after giving the seller 10 days’ written notice, revoke
the seller’s permit.

6. The trust must be valued quarterly and
averaged annually to determine the total value of the trust. If the average
market value of the trust as of December 31 of each year is below 100 percent
of the required value of the trust or 125 percent of the total trust liability,
the Commissioner may suspend the seller’s permit until the deficiency is made
up.

1. The corpus of all money deposited in
the burial merchandise and service trust fund must be kept unimpaired until the
prepaid contract is performed on the death of the person for whose benefit the
contract was made, or the contract is otherwise terminated and distribution or
disposition of money in the trust fund is made as authorized in accordance with
applicable law and the rights of interested persons.

2. Upon receiving a certified copy of a
death certificate or a certification by the cemetery authority that a
particular prepaid contract has been fully performed, the trustee of the burial
merchandise and service trust fund shall pay all money in the trust fund for
that contract to the cemetery authority.

3. The trustee shall not make any payments
out of the trust fund unless the trustee receives a death certificate or
certification as provided in subsection 2. In paying out money in such
circumstances, the trustee may rely upon all such death certificates and
certifications presented to the trustee which appear valid on their faces, and
the trustee is not liable to any person for paying out money upon such reliance.

1. Except as otherwise provided in
subsection 2, if the buyer moves to another geographic area beyond the normal
service facilities of the seller and performers under the prepaid burial
merchandise and service contract, the contract automatically terminates upon
the buyer’s written notice to the seller and trustee of the move of the buyer
and of the desire of the buyer to terminate the contract. The trustee, as soon
as reasonably possible after receipt of the notice, shall refund to the buyer
all money, including earned interest, in the trust fund held for the buyer’s
account.

2. If the contract continues in force and
the buyer is not in default thereunder, upon the demise of the buyer, the
contract automatically terminates. Upon termination, the seller shall:

(a) Furnish the merchandise and perform or
arrange to perform the services;

(b) Make arrangements for the fulfillment of the
agreement on a dollar-for-dollar basis with another performer serving the area
to which the buyer has moved; or

(c) Refund to the buyer or the representative or
estate of the buyer, or transfer to a substituted performer, all money,
including earned interest, in the trust fund held for the buyer’s account.

3. The cemetery authority shall include a
provision in each prepaid contract substantially stating: “If the purchaser
defaults in making any payment under this contract, the cemetery authority may
terminate the contract and is entitled to retain as damages not more than 40
percent of the total purchase price. The balance remaining, if any, must be refunded
to the purchaser.”

NRS 689.580Prepaid contracts: Termination on insolvency or other inability
of seller to perform; distribution of money in trust fund.

1. An executory prepaid contract
automatically terminates if the seller or any performer under the contract goes
out of business, dies, becomes insolvent or bankrupt, makes an assignment for
the benefit of creditors or is otherwise unable to fulfill the obligations
under the contract, unless the successors or assignees of the business agree to
accept all liability and to fulfill all obligations as originally set forth in
the contract.

2. Upon any such termination, the money in
the trust fund, including earned interest, held by the trustee for the account
of the buyer must be distributed by the trustee to the buyer or to a qualified
seller or performer assuming the outstanding contractual liabilities, as
authorized by the Commissioner.

(b) Copies of all agreements and dates and
amounts of payments made and accepted;

(c) The names and addresses of the contracting
parties; and

(d) The persons for whose benefit the payments
are accepted and the names of the depositories in which the payments are
deposited.

2. The seller shall keep within this
State, at the address shown upon the permit of the seller, complete records of
all transactions under the permit. Those records and the affairs of the seller
are subject to audit and examination by the Commissioner at any reasonable
time. Any costs incurred by the Commissioner to conduct an audit or examination
must be paid by the seller.

3. The seller shall keep such records for
not less than 5 years after the completion of all transactions to which they
relate.

NRS 689.590Exemption of person maintaining cemetery but not operating as
cemetery on July 5, 1971.The
provisions of NRS 689.450 to 689.595,
inclusive, do not apply to a person maintaining a cemetery but not operating as
a cemetery authority on July 5, 1971.

2. For the purposes of subsection 1,
unless the context requires that a section apply only to insurers, any
reference in those sections to “insurer” must be replaced by a reference to
“agent” and “seller.”

3. The provisions of NRS 679B.230 to 679B.300, inclusive, apply to sellers.
Unless the context requires that a provision apply only to insurers, any
reference in those sections to “insurer” must be replaced by a reference to
“seller.”

NRS 689.700Money in trust fund exempt from attachment and other process.In the absence of fraud, all money in a trust
fund held or invested in accordance with the provisions of this chapter is not
liable to attachment, garnishment or other process or to be seized, taken,
appropriated or applied to pay any debt or liability of the seller, buyer,
beneficiary or performer by any legal or equitable process or by operation of
law.

NRS 689.715Preneed sales agreement to be provided to person entitled to
custody of remains; penalty.

1. A funeral director or cemetery
authority that enters into a preneed sales agreement shall, upon the death of
the buyer, provide a copy of the agreement to each person entitled to custody
of the remains.

2. The Commissioner may impose upon any
person who knowingly violates the provisions of subsection 1 an administrative
fine of three times the amount of the preneed sales agreement.

NRS 689.730Penalties.In
addition to any other penalty provided for in this chapter, any person who
violates any provision of this chapter or any rule or regulation promulgated
pursuant to this chapter, for which a greater penalty is not otherwise provided
by law, is guilty of a misdemeanor.